In government accounting , the method used which records ...
In government accounting , the method used which records on the basis of financial entity with self balancing books instead of entity of propietorship is?
Virement
Fund accounting
Consolidated fund
Financial regulation
Correct answer is B
Fund accounting is an accounting system for recording resources whose use has been limited by the donor, grant authority, governing agency, or other individuals or organisations or by law. It emphasizes accountability rather than profitability, and is used by Nonprofit organizations and by governments. In this method, a fund consists of a self-balancing set of accounts and each are reported as either unrestricted, temporarily restricted or permanently restricted based on the provider-imposed restrictions.
The public account committee is an organ of ...
Subscription in advance is an example of ...
In company account, dividend payments are effected in which of the following accounts? ...
One of the options below is not the source of income for non - profit organization ...
The branch current account records ...
The principle of double entry system ensures ...
Which of the following belongs to the sales ledger? ...
The reason for treating carriage inwards in the trading account is because ...